Roadzen Inc. (RDZN): debt financing — Roadzen issues $2.3M convertible notes at 16% interest and $2.00 conversion price

Roadzen Inc.

Junior convertible notes for up to $2,300,000 principal; gross proceeds $2,000,000 before fees.
Interest 16% p.a. (18% on default); maturity one year from April 1, 2025.
Conversion price $2.00 per ordinary share; 4.99% beneficial ownership cap (adjustable to 9.99% after 61 days).
Quarterly principal payments of 25% (less conversions) beginning 3 months after issuance.
ThinkEquity LLC serves as placement agent with 3.5% fee on gross proceeds.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Roadzen Inc. incurred convertible notes of up to an aggregate principal amount of $2,300,000 with an institutional investor at 16% per annum (increasing to 18% per annum upon the occurrence and during the co maturing one year from the date of issuance.

Instrument: convertible notes
Principal: up to an aggregate principal amount of $2,300,000
Counterparty: an institutional investor
Rate: 16% per annum (increasing to 18% per annum upon the occurrence and during the co
Maturity: one year from the date of issuance
Event: incurrence

Exact text from the filing

agreed to issue and sell, in a registered public offering, junior convertible notes (each, a “Note” and collectively, the “Notes”) for up to an aggregate principal amount of $2,300,000 (the “Notes”) that may be convertible into the Company’s ordinary shares, par value of $0.0001 per share (the “Ordinary Shares”). On April 1, 2025, the Company completed the sale

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Roadzen Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-002387

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